Marshland Credit Union
- Assets
- $202.8m
- Revenue
- $10.4m
- Investments
- $55.1m
- Employees
- 71
- Location
- Brunswick, GA
- Founding
- Data as of
- 12/2022
- EIN
- 58-0872500
Organization Overview
Marshland Credit Union is located in Brunswick, GA. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Marshland Credit Union employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marshland Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2022, Marshland Credit Union generated $10.4m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $10.0m during the year ending 12/2022. While expenses have increased by 3.8% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION - TO PROVIDE FINANCIAL SERVICES FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS.
THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Jenrette Pres/ceo/bod | OfficerTrustee | 40 | $222,377 |
Charlie Lovering Vp/coo | Officer | 40 | $175,400 |
Millie Ray CFO | Officer | 40 | $147,482 |
Jim Andersen Bod Vice Cha | OfficerTrustee | 1 | $250 |
Delria Baisden Board Mem | Trustee | 1 | $250 |
Kathy Grace Bod Treas/sc | OfficerTrustee | 1 | $250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $7,565,843 |
| Investment income | $1,299,095 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,375,545 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,468,335 |
| Pension plan accruals and contributions | $268,393 |
| Other employee benefits | $745,423 |
| Payroll taxes | $257,199 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,074,620 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $460,206 |
| Travel | $12,005 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,030,404 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $168,204 |
| Total functional expenses | $10,001,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,759,719 |
| Savings and temporary cash investments | $1,950,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $122,163,319 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $343,180 |
| Net Land, buildings, and equipment | $4,070,044 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $55,109,714 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,367,590 |
| Total assets | $202,763,566 |
| Accounts payable and accrued expenses | $4,152,676 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $185,100,793 |
| Total liabilities | $189,253,469 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,778,424 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $10,731,673 |
| Total liabilities and net assets/fund balances | $202,763,566 |